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Economic Development Committee approves planning-option agreements for two projects, including RFP submission for state crime lab
Summary
The committee approved a planning-option agreement with Imminent Development Corporation (North 2nd rental project) after debate over incentives, and authorized CD Smith to hold land control and submit a business-park site for the state's crime-lab RFP; both approvals were by voice vote.
The Wausau Economic Development Committee on July 7 approved planning-option agreements that allow prospective developers time for due diligence without obligating the city to sell parcels or approve a final development.
Alder Neal moved and Alder Lukens seconded approval of a planning-option agreement with Imminent Development Corporation for a North 2nd project. The motion prompted debate over need and public subsidy: Alder Killian argued the city does not currently need additional housing and criticized the idea of selling a roughly 62,612-square-foot parcel (valued in the discussion at about $563,500 at $9 per square foot) "for $1 plus city subsidy," calling it "not a smart business move." Chair Henneke and other members countered that the planning-option is a preliminary step that does not commit the city to any sale or incentive and that any incentives would be negotiated in later development agreements. Julian Walter of Imminent Development told the committee the planning option would allow the developer to complete market studies and assemble financing before returning with term sheets and a development agreement. The committee approved the planning-option agreement by voice vote (no roll-call recorded).
Later the committee considered a request from CD Smith Construction to secure land control and submit a Wausau business-park site for a state Request for Proposals to host a Wisconsin crime lab. Todd Wonerlich, CD Smith's director of development, explained the RFP process (deadline July 23; selection and approvals could take two to three months). Members confirmed the likely outcome that the facility would be privately owned and leased to the state (rather than a city-owned taxable facility change), and Alder Neal moved to accept the request; Alder Killian seconded. The committee approved the request by voice vote.
Votes and formal outcomes taken at the meeting were recorded as voice votes; specific individual roll-call tallies were not recorded in the transcript. Both planning-option approvals allow staff and developers to proceed with due diligence and to return to the committee with more detailed proposals and any proposed incentives or sale terms.
